Forvis Mazars Wealth Advisors LLC Has $699,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Forvis Mazars Wealth Advisors LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,330 shares of the semiconductor company’s stock after selling 963 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Marvell Technology were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Wellington Management Group LLP increased its position in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Van ECK Associates Corp increased its position in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 4.5 %

MRVL opened at $103.85 on Monday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company’s 50-day moving average is $113.59 and its 200 day moving average is $92.50.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MRVL shares. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. KeyCorp boosted their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.